
Berkadia Arranges $14.3M Sale of Coral Gables Development Site
Berkadia has arranged the $14.3 million sale of 1715 Douglas, an 0.87-acre development site in Downtown Coral Gables. Senior Managing Directors Roberto Pesant and Jaret Turkell, Director Yoav Yuhjtman, Associate Director Omar Morales and Associate Jose Mota of Berkadia South Florida marketed the property on behalf of the seller.
BAM Development acquired the property, which is site plan-approved for an eight-story, 120-unit Class A multifamily mid-rise development with 178 proposed parking spaces. Tomas Sulichin of ISG Related represented the buyer. It will feature and one- and two-bedroom units.
“1715 Douglas has a strategic location in the thriving South Florida market,” said Pesant. “Coral Gables is experiencing a wave of growth that has easy access to major hubs like Brickell and the Miami Health District. As demand for sophisticated living spaces grows, 1715 Douglas will set a new standard for sophistication in the heart of Coral Gables.”
- ◦Development